bloomberg business
March 20, 2020

Former New York City Mayor Michael Bloomberg is backing out of his promise to form an independent super PAC to support the eventual Democratic nominee against President Trump, instead laying off all of his staff and transferring $18 million from his campaign to the DNC, The New York Times reports and NBC News report.

Bloomberg had hired his campaign's field staff with the assurance that they would have jobs through the November election, even if he dropped out of the race — which he did, on March 4, while throwing his support behind former Vice President Joe Biden. The DNC plans to use the money from Bloomberg to hire their own staff, although NBC News' Maura Barrett notes that "the campaign is encouraging everyone [not involved in the transition of a few battleground state offices] to apply to the DNC," despite them also being advised that the pay would not likely be the same.

"While we considered creating our own independent entity to support the nominee and hold the president accountable, this race is too important to have many competing groups with good intentions but that are not coordinated and united in strategy and execution," explained Bloomberg's campaign in a memo. "The dynamics of the race have also fundamentally changed, and it is critically important that we all do everything we can to support our eventual nominee and scale the Democratic Party's general election efforts."

Bloomberg's $18 million transfer to the DNC is far more than the legal limits for individuals, but campaigns are allowed to make unlimited transfers to political parties. As of March 5, the New York Post reports that the Bloomberg campaign had 2,400 paid staff members in 43 states. Jeva Lange

December 6, 2019

Michael Bloomberg doesn't see anything wrong with being another white man in the increasingly less diverse 2020 field.

As Sen. Cory Booker (D-N.J.) recently pointed out after Bloomberg's entry to and Sen. Kamala Harris' (D-Calif.) departure from the 2020 presidential race, there are now "more billionaires than black people" running for president. But when confronted with that fact in a CBS This Morning interview, Bloomberg, one of those aforementioned billionaires, didn't seem to think it was a problem.

In the interview aired Friday, Gayle King asked Bloomberg if it was a "problem" that the December Democratic primary debate might not have any people of color on the stage. "It would be better the more diverse any group is, but the public is out there picking and choosing," Bloomberg responded. He then pointed out that there was a more diverse field earlier in the race.

Then, King asked Bloomberg to response to suggestions that he's "another old, white gentleman" in the race, and that it's "time for change." "Maybe," Bloomberg acknowledged, and then added "If you wanted to enter and run for president of the United States, you could have done that. But don't complain to me that you're not in the race."

Bloomberg also explained his recent decision to apologize for the "stop and frisk" policy he pursued as New York City mayor by asserting he only said he was sorry for it now because "nobody asked me about it until I started running for president." Kathryn Krawczyk

September 17, 2018

Michael Bloomberg is considering a run for president as a Democrat, despite the small fact that he opposed nearly every progressive principle out there.

The ex-New York City mayor and billionaire businessman has spent the past few days rejecting his former GOP ties, lobbying for gun control and touting a Democratic House takeover across the West Coast. Then, he went on to question the #MeToo movement, defend New York's much-decried stop-and-frisk policy, and slam liberal stances on big business in a Friday interview with The New York Times.

Bloomberg has spent his life toggling between political parties, previously identifying as a Democrat, Republican, and now an independent. And in another ideological twist, Bloomberg announced in June that he'd give $80 million to centrist candidates in 2018, mostly aimed at flipping the House for Democrats. That same middle-of-the-road messaging has dominated his Bloomberg's consideration of a 2020 presidential run, though he told the Times he'd probably "have to run as a Democrat" if he wanted to win. He's popped up at gun control rallies over the past few days, and he has always championed environmental protection.

Yet in his Times interview, Bloomberg also slammed Sen. Elizabeth Warren's (D-Mass.) corporation-busting plan. He decried "outrageous" police violence, but maintained New York's stop-and-frisk policy didn't violate privacy rights like so many civil liberties advocates claim. And he claimed he "didn't know how true" all the sexual harassment allegations against disgraced CBS broadcaster Charlie Rose were, but he'd prefer if we "let the court system decide."

These views add a few asterisks to Bloomberg's Democratic bona fides — and probably don't bode well in a climate where progressive insurgents keep taking down their solidly centrist foes. Read more at The New York Times. Kathryn Krawczyk

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